Forex Strategy Momentum Pinball — another strategy Linda Raschke (recall that earlier we discussed its strategy: 80-20, Turtle Soup), this forex strategy is simple and is not long, but nevertheless allows for the right to use it, make a profit on the forex market. Although just want to warn that the deals are not so often (because the signals we receive on a daily interval).

Strategy Momentum Pinball — multi-currency (ie, suitable for any currency pair), transactions are made on the signals of 2 intervals: D1 and H1

To trade on it, we will need to be installed on schedule for the chosen currency pair is only one indicator forex:

1) Indicator Momentum Pinboll (MomPinboll.mq4) with the following parameters: PeriodRSI -3, PeriodROC — 1, just add the levels of 70 and 30

This forex indicator is freely available online and is designed specifically to trade forex strategy is described.

His formula looks something like this: MomPinboll = one-period ROC / trehperiodny RSI, or in other words: indicator forex MomPinboll based on the momentum of the market (the difference between today and yesterday’s closing prices) — used indicator Rate of Change (ROC) with period 1 divided by the RSI (with period 3)

For ease of installation indicator MomPinboll, recommend to download a template at the end of Metatrader 4 forex strategy Momentum Pinball

Now let’s consider the conditions under which we will enter into transactions in accordance with the rules of forex strategy Momentum Pinball.

Conclude a deal to buy if:

1. Indicator MomPinboll was at the closing day candle below the oversold 30.

2. The next day, waiting for closing the first hours of candle

3. Set the Buy Stop order higher than the maximum closed time candles are indented at least 10-15, maximum — 20 points (do not forget that trade is conducted on the basis of the closing day candles). The distance depends on the volatility of the currency pair, the higher it is, the greater the indentation, respectively, and for issuing a pending order.

4. Next install a safety stop-loss at the same distance as a pending order, but now from a minimum of a closed candle 2-hour day (from which we set aside Buy Stop).

Usually the price on the market should not return to the stop-loss, but if you knock on the stop-loss, you must set aside an order to buy at the price of the first order again. In most cases, the second order closed with a profit and a good profit, if the order is of course re-opens.

5. If the closing of the second trading day (opening day of the transaction), we have a profit on an open position, there are several options for closing the deal:

a) closing the deal totally

b) the closing of the transaction, and rearrange the rest to breakeven

c) deal leaves open the next day at night and leave it be a little higher than the maximum 2-day.

d) the opening of the transaction must be closed necessarily maximum at the end of the third day!

6. If you prefer, you can simply use the trailing stop to accompany a trading position (or Universal Standard MT4 Trailing Stop) at 30-50-70 points.

For transactions on sale — check the conditions!

An example of the signal on the daily chart:

Further developments: installation orders, closing on the hourly chart:

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